Sceptre grows earnings despite pub closures
SCEPTRE Leisure, the AIM-listed gaming group has increased full-year sales and earnings against a gloomy outlook in the pub trade.
The Preston-based company, which supplies around 21,000 fruit machines and other gaming products to the leisure sector, said the growth had come from working closely with its customers and winning news business.
Its latest agreement is to supply around 300 Punch Pub Company pubs. The contract, won from its main rival Leeds-based Gamestec, is expected to give Sceptre annual sales of around £2m.
During the 12 months to April 30 the company saw pre-tax profits rise 37% to £1.9m on sales of £42.8m, up 9%. Revenue was also helped by the £1.1m acquisition of Dorset-based company Australian 8 Ball, which added 1,150 gaming machines to the business and £2m in turnover.
The average weekly income from machines slipped 8% to £35.87, largely due to the £3.75m disposal of its Fixed Odds Betting Terminal (FOBT) business to Global Draw in April.
Chief executive ken Turner said: “We’ve come through the recession very, very well. We’ve seen pub closures running at 38 to 40 a week yet we’ve still been able to grow our machine numbers.”
During the period the company reduced its net debt by £3.6m to £15.9m.
